in pre-open 25 minutes .. no announcement, page-15

re: this is what it's about no doubt Start filling your glasses with some Dom guys. My crystal ball tells me that Textron has made a decision in terms of its adoption and expansion of the Intevia technology. Clearly it is embracing the technology and is punting on it to being a major revenue driver in the coming years.

One only has to look at the P&Ls of Textron by division to see that the fastening division only returns US53 million profit on US1.9 billion in sales for the 2004 year. Bell does US250m profit on US2.2 billion in sales. It seems Textron wants to offload parts of the fastening business to free up capital to ramp up Intevia. Intevia will be a high margin business particulary in the aerospace industry in which it is currently has made a prescence.

As Intevia takes a foothold in the fastening market, this will further erode any goodwill the company has in the traditional bolts and screws market. Hence, its better to offload it now while its worth more.